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Registros recuperados: 22
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The Economic Effects of State Trading Enterprises: Market Access and Market Failure AgEcon
McCorriston, Steve; MacLaren, Donald.
Tipo: Conference Paper or Presentation Palavras-chave: International Relations/Trade.
Ano: 2006 URL: http://purl.umn.edu/25326
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Buyer Market Power in UK Food Retailing AgEcon
Lloyd, Tim A.; McCorriston, Steve; Morgan, C. Wyn; Weldegebriel, Habtu T..
The potential existence of buyer market power in UK food retailing has attracted the scrutiny of the UK's anti-trust authorities, culminating in the decision to launch the second of two comprehensive regulatory inquiries in recent years. Throughout, detection of buyer power has been dogged by the paucity of reliable evidence of its existence. In this paper we present a simple theoretical model of oligopsony which delivers quasireduced form retailer-producer pricing equations in which the presence of market power can be detected using readily available market data. Using a cointegrated vector autoregression, we find empirical results that are consistent with the presence of oligopsony power in all six food products investigated.
Tipo: Working or Discussion Paper Palavras-chave: Buyer power; Cointegrated VARs; UK food industry; Agribusiness; Consumer/Household Economics.
Ano: 2007 URL: http://purl.umn.edu/46007
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THE NON-NEUTRALITY OF WTO BORDER TAX ADJUSTMENTS FOR ENVIRONMENTAL EXCISE TAXES UNDER IMPERFECT COMPETITION AgEcon
McCorriston, Steve; Sheldon, Ian M..
Border tax adjustments for environmental taxes should leave imports of final goods unchanged. If intermediate and final goods markets are imperfectly competitive though, non-neutrality can result. Under Cournot behavior, an import tax equal to the environmental tax is too high, and under Bertrand, an import subsidy is the appropriate policy.
Tipo: Conference Paper or Presentation Palavras-chave: Environmental Economics and Policy; International Relations/Trade.
Ano: 2002 URL: http://purl.umn.edu/19673
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Vertical Market Structure, Commodity Exports and Trade Reform AgEcon
McCorriston, Steve; Sexton, Richard J.; Sheldon, Ian M..
In the analysis of commodity markets, comparatively little attention is paid to the fact that commodity exports are intermediates that form inputs into the food processing and retail sectors in developed countries. Exporting countries correspondingly argue that access to developed country markets are determined by market structure characteristics of the downstream food sector. Given the vertical nature of these markets, they are most appropriately characterised by successive oligopoly and/or oligopsony. We explore trade policy issues facing commodity exporters, and show that the impact of tariff reform on commodity exporters is determined by the market structure characteristics of the downstream sectors.
Tipo: Conference Paper or Presentation Palavras-chave: Vertical market structure; Trade reform; Industrial Organization; International Relations/Trade; F12; Q17.
Ano: 2005 URL: http://purl.umn.edu/24754
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TARIFF ESCALATION AND THE DEVELOPING COUNTRIES: HOW CAN MARKET ACCESS BE IMPROVED IN THE DOHA ROUND OF TRADE NEGOTIATIONS? AgEcon
McCorriston, Steve; Sheldon, Ian M..
This paper explores the issue of market access where some developing countries export high-value processed goods and others export raw commodities. The results show that market access issues for goods entering at different stages of the marketing chain should take into consideration the potential existence of successively oligopolistic markets.
Tipo: Conference Paper or Presentation Palavras-chave: International Relations/Trade.
Ano: 2004 URL: http://purl.umn.edu/20156
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ANALYZING VERTICAL MARKET STRUCTURE AND ITS IMPLICATIONS FOR TRADE LIBERALIZATION AgEcon
Sexton, Richard J.; Sheldon, Ian M.; McCorriston, Steve; Wang, Humei.
A model is developed to characterize the vertically linked and concentrated nature of developed country food markets. This model is then parameterized and used to simulate the effects of varying food market structures on the benefits to developing country exporters of agricultural commodities from trade liberalization by developed countries.
Tipo: Conference Paper or Presentation Palavras-chave: International Relations/Trade.
Ano: 2004 URL: http://purl.umn.edu/20060
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Trade and Welfare Effects of State Trading Enterprises AgEcon
McCorriston, Steve; MacLaren, Donald.
Much of the analysis of market access issues in the Doha Round negotiations involves clearly defined instruments of government policy covering inter alia subsidies, tariffs and tariff rate quotas. State trading enterprises are also on the negotiating agenda though there is comparatively little analysis of their impact on trade and welfare despite the fact that they will be addressed in the forthcoming negotiations. This paper addresses these issues and highlights that STEs both distort trade and reduce welfare. The extent of these effects depend not only on the monopoly/monopsony status of the enterprises but the nature of the pay-off function.
Tipo: Conference Paper or Presentation Palavras-chave: State trading enterprises; Trade negotiations; International Relations/Trade; F12; F13; Q17.
Ano: 2005 URL: http://purl.umn.edu/24523
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THE IMPACT OF FOOD SCARES ON BEEF AND INTER-RELATED MARKETS AgEcon
Lloyd, Tim A.; McCorriston, Steve; Morgan, C. Wyn; Rayner, Anthony J..
In this paper we investigate the impacts of food scares in the UK on the prices and spreads of beef, pork and lamb using a decade of monthly price data (1990-99). Results underline the importance of food scares on prices and price spreads and the strong inter-relationships between meats, typically ignored in such studies.
Tipo: Conference Paper or Presentation Palavras-chave: Food Consumption/Nutrition/Food Safety.
Ano: 2001 URL: http://purl.umn.edu/20578
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EXCHANGE RATE MISALIGNMENT AND AGRICULTURAL TRADE AgEcon
Cho, Guedae; Sheldon, Ian M.; McCorriston, Steve.
Using a sample consisting of bilateral trade flows across 10 developed countries between 1974 and 1995, this paper explores the effect of exchange rate misalignment on the growth of agricultural trade as compared to other sectors. Controlling for other factors likely to determine the growth in bilateral agricultural trade, the results show that long-run real exchange rate variability has had a significant negative effect on the growth of agricultural trade over this period. Keywords: Exchange rates, misalignment, agricultural trade
Tipo: Conference Paper or Presentation Palavras-chave: Exchange rates; Misalignment; Agricultural trade; International Relations/Trade.
Ano: 2000 URL: http://purl.umn.edu/21824
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Climate Policy, Carbon Leakage and Competitiveness: How Might Border Tax Adjustments Help? AgEcon
Sheldon, Ian M.; McCorriston, Steve.
In this paper, analysis is presented relating to the impact of border tax adjustments for climate policy on the international competitiveness of energy-intensive industries, and the related problem of carbon leakage. While many of the economic and legal issues are not particularly new, climate policy does present some possible twists to the analysis of border tax adjustments when vertically-related markets can be characterized as a successive oligopoly. Specifically, an appropriate border tax adjustment will depend on the incidence of a domestic carbon tax, the nature of competition in upstream and downstream sectors, as well as the basis for assessing the trade neutrality of any border tax adjustment. If trade neutrality is defined in terms of market...
Tipo: Conference Paper or Presentation Palavras-chave: Climate policy; Carbon leakage; Border tax adjustments; Imperfect competition; Environmental Economics and Policy; International Relations/Trade; H87; Q38.
Ano: 2011 URL: http://purl.umn.edu/103207
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EXPORT COMPETITION AND THE REMISSION OF DOMESTIC ENVIRONMENTAL TAXES AgEcon
McCorriston, Steve; Sheldon, Ian M..
In this paper we consider the use of border adjustments to compensate exporters for domestic environmental taxes even when the environmental tax is imposed on an intermediate good. Although GATT/WTO rules allow for border adjustments, there has been little analysis of them. A model of successive oligopoly is used to consider the appropriate border adjustments since many industries where environmental excise taxes are applied can be characterised as imperfectly competitive. We show that the border adjustment currently allowed for in GATT/WTO rules is, under certain circumstances, likely to be too low to maintain the competitiveness of exporters. In some cases, an export tax would be justified.
Tipo: Conference Paper or Presentation Palavras-chave: International Relations/Trade.
Ano: 2003 URL: http://purl.umn.edu/21994
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The Trade and Welfare Effects of State Trading in China AgEcon
McCorriston, Steve; MacLaren, Donald.
State trading is a common feature in the management of imports and exports of agricultural products and it has been a long-standing feature of China’s agricultural trade regime. While the use of state trading was modified by China’s accession to the WTO, it remains a dominant feature for some commodities, even although there have been recent attempts to diminish its importance. In this paper, we review the role that the state trading enterprise (STE), COFCO, continues to play in the importing and exporting of some agricultural commodities. We then review the economic theory that has been developed to measure the tariff equivalent of importing state trading enterprises. Finally, we apply that theory through a calibration exercise to measure the tariff...
Tipo: Conference Paper or Presentation Palavras-chave: Trade Policy; State Trading Enterprises; China; Industrial Organization; International Relations/Trade.
Ano: 2009 URL: http://purl.umn.edu/51203
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Do Sales Matter? Evidence from UK Food Retailing AgEcon
Lloyd, Tim A.; Morgan, C. Wyn; McCorriston, Steve; Zgovu, Evious.
This paper assesses the role of sales as a feature of price dynamics using scanner data. The study analyses a unique, high frequency panel of supermarket prices consisting of over 230,000 weekly price observations on around 500 products in 15 categories of food stocked by the UK’s seven largest retail chains. In all, 1,700 weekly time series are available at the barcode-specific level including branded and own-label products. The data allows the frequency, magnitude and duration of sales to be analysed in greater detail than has hitherto been possible with UK data. The main results are: (i) sales are a key feature of aggregate price variation with around 40 per cent of price variation being accounted for by sales once price differences for each UPC level...
Tipo: Conference Paper or Presentation Palavras-chave: Sales; Price variation; Retail; Consumer/Household Economics; Demand and Price Analysis; L16; L66; Q13..
Ano: 2011 URL: http://purl.umn.edu/108774
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THE IMPACT OF FOOD SCARES ON PRICE TRANSMISSION IN INTER-RELATED MARKETS AgEcon
Lloyd, Tim A.; Morgan, C. Wyn; McCorriston, Steve; Rayner, Anthony J..
This paper is concerned with the impact of the BSE crisis in the UK and focuses on the spread between retail and farm prices. From a theoretical perspective we show that if market power has an effect on the spread between retail and farm prices then this determines the specification of the co-integrating relationship. We also account for different aspects of the BSE crisis including the shift in the retail demand function as well as the shift in the farm supply function due to the mutually opposing effects of a worldwide export ban and the cull of infected and older beef cattle. The empirical results suggest that the impact of the BSE crisis on farm prices to be more than double that of retail prices, the main cause of the change in the retail-farm price...
Tipo: Conference Paper or Presentation Palavras-chave: Demand and Price Analysis.
Ano: 2003 URL: http://purl.umn.edu/25904
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AJAE Appendix: De-regulation as (Welfare Reducing) Trade Reform: The Case of the Australian Wheat Board AgEcon
McCorriston, Steve; MacLaren, Donald.
The material contained herein is supplementary to the article named in the title and published in the American Journal of Agricultural Economics,Volume 89, Number 3, August 2007.
Tipo: Journal Article Palavras-chave: International Relations/Trade.
Ano: 2007 URL: http://purl.umn.edu/7407
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Market Power and Relative Price Adjustment: Evidence from the UK AgEcon
Morgan, C. Wyn; McCorriston, Steve.
Empirical studies of price transmission often suggest that imperfect pass-through may be due to market power exerted by food retailers. However, these econometric studies essentially lack any formal basis for tying the role of market power with data comprising of retail and producer prices only. We show that if market power has an effect on the farm-retail margin, this determines the specification of the cointegrating relationship. To emphasise the relevance of the tests, we focus on results relating the UK beef sector and show that market power is likely to have played a role in determining the retail-farm price margin.
Tipo: Conference Paper or Presentation Palavras-chave: Price adjustment; Market power; Demand and Price Analysis; Q11; L13.
Ano: 2005 URL: http://purl.umn.edu/24485
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Do Sales Matter? An Exploration of Price Discounting in UK Food Retailing AgEcon
Lloyd, Tim A.; Morgan, C. Wyn; McCorriston, Steve; Zgovu, Evious.
This paper assesses the impact of promotional activity in the prices of food products on supermarket shelves. The study analyses a unique, high frequency panel of supermarket prices consisting of over 230,000 weekly price observations on around 500 products in 15 categories of food stocked by the UK’s seven largest retail chains. In all, 1,700 weekly time series are available at the barcode-specific level including branded and own label products. Prices are inclusive of promotions and thus allow the frequency, magnitude and duration of sales to be analysed in greater detail than has hitherto been possible with UK data. Using this price data, sales periods are indentified. Results show that around 8% of products are on sale at any one time, and that sales...
Tipo: Conference Paper or Presentation Palavras-chave: Food retailing; Pricing; Sales; Demand and Price Analysis; Industrial Organization; Marketing; L16; L66; Q13.
Ano: 2009 URL: http://purl.umn.edu/51572
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An Assessment of the Economic Effects of COFCO AgEcon
MacLaren, Donald; McCorriston, Steve.
Tipo: Book Palavras-chave: International Relations/Trade.
Ano: 2007 URL: http://purl.umn.edu/55026
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IMPERFECT COMPETITION, TRADE POLICY AND PROCESSED AGRICULTURAL PRODUCTS: SOME INITIAL RESULTS AgEcon
McCorriston, Steve; Sheldon, Ian M..
This paper applies some recent developments in international trade theory to processed agricultural product markets. Theoretical results are derived showing that when such markets are characterized by imperfect competition, there may be a case for government intervention in the form of subsidies and tariffs. In order to provide some empirical background, a simulation model is used to assess the level of an optimal tariff on U.S. cheese imports. The implications of this analysis for the liberalization of agricultural trade are also considered.
Tipo: Journal Article Palavras-chave: Agricultural and Food Policy; International Relations/Trade.
Ano: 1990 URL: http://purl.umn.edu/26549
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ANALYZING VERTICAL MARKET STRUCTURE AND ITS IMPLICATIONS FOR TRADE LIBERALIZATION AND MARKET ACCESS AgEcon
Sexton, Richard J.; Sheldon, Ian M.; McCorriston, Steve; Wang, Humei.
Tipo: Working or Discussion Paper Palavras-chave: International Relations/Trade.
Ano: 2003 URL: http://purl.umn.edu/14600
Registros recuperados: 22
Primeira ... 12 ... Última
 

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